Posted on 08/27/2012 10:12:15 AM PDT by Olog-hai
The federal government’s debt could hit an unprecedented $16 trillion this week while the Republican Party is holding its national convention in Tampa, Fla.
On Monday afternoon, at the opening of the convention. the Republicans will try to draw attention to the mounting debt by unveiling a debt clock in the Tampa Bay Times Forum, where the convention will be held. At an event in Waterloo, Iowa, earlier this month President Obama highlighted his own efforts to deal with the debt. …
At the close of business on Thursday, Aug. 23, according to the U.S. Treasury, the federal government’s debt stood at $15,976,519,029,144.14. That left it $23,480,970,855.86 short of the $16 trillion mark. …
Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06. That is as much as the entire debt accumulated by the United States from the founding of the country in 1776 until Feb. 28, 1997, when President Bill Clinton was in his second term. …
(Excerpt) Read more at cnsnews.com ...
There IS no other issue that tops the out of control government spending.
Whatever pet issue anyone has (Abortion, gay marriage, environmental issues, liberalism run amuck) will mean what if monetizing our debt leads to runaway inflation? It will mean what when your life savings will now buy a well used car?
” Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06. That is as much as the entire debt accumulated by the United States from the founding of the country in 1776 until Feb. 28, 1997, when President Bill Clinton was in his second term. …”
Just a warm up if Obama wins again. Try 25 trillion.
Implementation of the Cloward-Piven Strategy of Orchestrated Crisis continues.
To be fair, the starting point for Obama should be 30 September 2009.
This was the end of fiscal year 2009 which began on 1 October 2008 during the Bush Administration.
The CBO projected in January 2009 that the deficit for FY 2009 would be over $1.2 trillion, and they were correct.
So Obama really inherited it.
” To be fair, the starting point for Obama should be 30 September 2009.
This was the end of fiscal year 2009 which began on 1 October 2008 during the Bush Administration.
The CBO projected in January 2009 that the deficit for FY 2009 would be over $1.2 trillion, and they were correct.
So Obama really inherited it.”
Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06.
Since when does 5.4 trillion equal 1.2 trillion ?
I'm so sick of hearing that. So what if he did? Everything he's done since has made it gravely and intentionally worse.
$5,349,641,980,231.06.
Money well spent.
Its difficult not to see all the positives all this targeted spending has had.
The Chevy Volt is like a shining light on a hill.
It’s difficult not to get all warm and fuzzy when one think about everything Obama has done for the employment numbers or the housing market.
On a totally unrelated point, what comes after Trillion?
You need to understand the difference between the budget deficit and the national debt.
The budget deficit is the difference between revenue and expenditures in a given year. For example, in FY 2009 the federal government took in $2.105 trillion of revenue and spent $3.518 trillion. So it had a $1.413 trillion budget deficit that year.
The national debt is the total amount that our federal government owes which is almost $16 trillion.
quadrillion
Thousand - 10^3
Million - 10^6
Billion - 10^9
Trillion - 10^12
Quadrillion - 10^15
Quintillion - 10^18
Sextillion - 10^21
Septillion - 10^24
Octillion - 10^27
Nonillion - 10^30
Decillion - 10^33
Quadrillion, which is a thousand trillion.
The derivatives market currently hovers around $1½ quadrillion in terms of outstanding derivatives. $1 quadrillion by itself is 15 times the G(D)P of the entire planet.
“On a totally unrelated point, what comes after Trillion?”
apocalypse.....
If you were standing on the 1 yard line and kicked a football 1 trillion inches, how many field goals would you score?
roughly 27,778
If you went 1 trillion seconds back in time, where in history would you be?
roughly 29,000 BC
We are 16 times those numbers in debt.
“Event Horizon”, a black hole term, applies.
And we have passed the event horizon. It doesn’t look like there is an imminent danger, but there is an inevitable disaster that we are orbiting, gradually being sucked in, accelerating towards demise.
Two questions - are you prepared for it? Who do you want to have the reins of power when it occurs?
I understand the pubbies are going to have a version of a debt clock. If the 16 trillion hits during the convention there should be a moment where some one prominent quotes Biden:”Ladies and gents, this is a big effin deal”
Don’t let a crisis go to waste...don’t miss the opportunity to kick the crap outta them.
They must be defeated. “Democratii” delenda est.
Etcetera etcetera and of course, etcetera.
Bazillion - ?
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